Quest Uranium Corporation

Quest Uranium Corporation

September 23, 2009 08:00 ET

Quest Drilling Confirms B-Zone Resource Potential, Returns Multiple Horizons Up to 2.18% Total Rare Earths Over 12.0 Metres, Strange Lake Project, Quebec

Highlights: - B-Zone drilling has traced mineralization over a strike length of at least 1.0 km, over minimum widths of 400 m and for a minimum thicknesses of between 75.0 and 101.0 m - Multiple, high-grade intersections of between 1.11% and 3.47% REE+Y over widths of 1.0 and 14.0 m characterize all holes drilled into the zone, within a larger, 75.0-101.0 m-thick, mineralized envelope grading between 1.08%-1.15% REE+Y - The B-Zone is completely open to resource expansion

TORONTO, ONTARIO--(Marketwire - Sept. 23, 2009) - Quest Uranium Corporation (TSX VENTURE:QUC) is pleased to report initial assay results from diamond drilling of the newly discovered B-Zone REE deposit (see Press Release : August 19, 2009, Figure1) has confirmed that the B-zone hosts significant resource potential over a minimum strike length of one km and over widths of at least 400 m (see Figure 2). Lab results for the first three holes of the program returned multiple, high rare earth elements+yttrium (REE+Y) grade intersections of between 1.11 % and 3.47% over thicknesses of 1.0 m to 14.0 m. Heavy REE (HREE) represents between 33% and 60% of the Total REE (TREO) content intersected in drilling. Strong values of zirconium (Zr), niobium (Nb), hafnium (Hf) and berylium (Be) are also characteristic of the zone. Of greater significance is the observation that the full length of the drillholes completed in the zone so far are REE mineralized, returning average grades of between 1.08% and 1.15% REE+Y and thicknesses of between 75.0 m and 101.0 m. Mineralization is open to resource expansion in all directions. Drilling on all holes stopped at depths ranging between 75 m and 150 m, while still in mineralization. Technical limitation of the machines used in this phase of the drill program prevented Quest from extending the holes. The holes have been capped and will be extended with larger, more powerful equipment during future drill programs. All information relating to the Strange Lake project can now be viewed on the re-designed Quest website at The site was officially launched earlier this morning.

"Early results of definition drilling on the recently-discovered B-Zone closely reproduce our surface sampling results and appear to be defining an important zone of good grade mineralization. The zone has a large surface and thickness profile, outcrops at surface and appears to indicate the potential for a significant open pit type of deposit," said Peter Cashin, Quest's President & CEO. "The B-Zone is also observed to have important quantities of valuable heavy rare earth elements, excluding yttrium, and will be an important value contributor to the Strange Lake project resource going forward. The B-Zone is also open to resource expansion along strike, width and at depth and will be evaluated in future drill programs."

B-Zone Definition Drill Program

A definition-drilling program of 19 vertical drillholes totalling 2,130 m was recently completed and tested the zone over a strike length of 1.0 km and over widths of at least 400 m at a drill spacing of between 100 m and 200 m (see Figure 3). Drilling has confirmed mineralization to be relatively flat-dipping and is exposed at the outcrop surface. All of the holes completed to date have intersected strongly mineralized pegmatites and intensely altered and mineralized granite. The surface footprint of the B-Zone mineralization is expressed as a two km-long airborne radiometric anomaly northwest of the Strange Lake Main Deposit (historical resource estimate, pre-National Instrument 43-101; Venkatswaran, 1983 - 52 million tonnes @ 3.25% ZrO2, 0.56% Nb2O5, 0.66% Y2O3, 0.12% BeO and 1.30% TREO).

The best results returned from the first three holes of the program, representing 251.0 m of drilling, are:

Borehole # From (m) To (m) Length (m) TREO + Y(%) HREE(%)

BZ-09-001 5.1 16.0 10.9 1.78 50.0
including 5.1 9.0 3.9 3.23

23.0 36.0 13.0 1.58 55.3
including 26.0 36.0 10.0 1.76
and including 28.0 33.0 5.0 2.46

40.0 54.0 14.0 1.05 46.7
including 44.0 50.0 6.0 1.36

BZ-09-002 13.0 27.0 14.0 1.14 33.1
including 13.0 16.0 3.0 1.65

46.0 53.0 7.0 1.11 40.2

66.0 75.0 9.0 1.98 59.8
including 66.0 69.4 3.4 3.47

BZ-09-003 19.0 31.0 12.0 2.18 58.5
including 19.0 26.0 7.0 2.81

Where: Be equals beryllium, Zr equals zirconium, Y equals yttrium, Nb equals
niobium, La equals lanthanum, Ce equals cerium, Nd equals neodymium, Sm
equals samarium, Pr equals praseodymium, Eu equals europium, Gd equals
gadolinium, Tb equals terbium, Dy equals dysprosium, Lu equals lutetium, Tm
equals thulium, LREE equals light rare earth elements, HREE equals heavy
rare earth elements, TREE equals Total Rare Earth metals, TREO equals Total
Rare Earth Oxides.

The B-Zone rocks intersected in drilling are highly hematite and specularite-altered and fluorite-mineralized Strange Lake alkali granite (see Figure 4). The principal rare earth minerals observed in the core are Zircon (Zr, Hf, silicate), Gittinsite (Zr, silicate), Xenotime (Y, HREE, phosphate), Pyrochlore (Nb, Ta, fluoride), Gadolinite (REE, Zr silicate) and Allanite (LREE silicate).

The better grades of mineralization appear to be related to the equigranular aplitic and pegmatitic phases of the host granite. The highly-altered granite hosting the aplites and pegmatites also carries elevated grades of REE over the entire length of the drilling. The best bulk-grade intersections were returned from drillholes BZ-09-001 (1.08% REE+Y over 95.9 m) and BZ-09-003 (1.15% REE+Y over 70.0 m). In addition to REE, the mineralized zone has elevated concentrations of zirconium, niobium, beryllium, hafnium and lead. Bulk sampling of the B-Zone mineralization is currently being undertaken and will be used for pilot metallurgical testing during the winter period. Quest has contracted Hazen Research, Inc. of Golden, Colorado, to undertake this work. It should be noted that Hazen was responsible for the successful metallurgical work completed for the Strange Lake deposit under contract to IOC in the 1980's.

Main Zone Definition Drill Program

In addition to the definition drilling completed over the B- REE zone (see Press Release: August 19, 2009), a program of definition drilling over the Main Zone was undertaken. A program of 30 drillholes for 1,800 m was completed for this portion of the program. Quest drilling has confirmed the historical thicknesses of mineralization from previous work and has confirmed that the zone dips at a shallow angle northward onto Quest's 100%-owned Quebec claims. The mineralization is open to further resource expansion down-dip towards the northeast and along strike.

The mineralization is observed to be related to zones of granite aplites and pegmatites. The REE minerals observed for both the Main Zone and B-Zone are similar but the wallrock alteration observed within the host alkali granite is less intense and restricted to within 1.0 m of the aplite-pegmatite sections in the Main zone. Outwards from the mineralized section, the granite is observed to be weakly altered to unaltered. Assays from the first holes into the Main are pending and Lab results are expected within a week.

43-101 Preliminary Resource Estimate

An inferred resource estimate for the B- and Main zones will be calculated once all of Quest's diamond drilling and core analysis work is completed and all exploration data from the 2009 program is compiled. Wardrop Engineering Inc., of Toronto, Ontario, has been contracted to complete this work. It is anticipated that this resource estimate will be completed sometimes in the Q2 2010. Wardrop personnel have completed their property visit due diligence.

Quality Control

Mr. Peter Cashin, P. Geo., is the qualified person on the Strange Lake Project under National Instrument 43-101 and was responsible for this news release. Material for analysis has been obtained from diamond drill core samples from outcrop and boulders. A strict QA/QC program is followed which includes the use of elemental standards, duplicates and blanks. Analyses were performed by Activation Laboratory Limited of Ancaster, Ontario.

The 1983 historical mineral resource estimate referred to in this press release was prepared before the introduction of National Instrument 43-101. No qualified person has undertaken sufficient work to classify this historical resource estimate as current mineral resources or mineral reserves. Accordingly, Quest is not treating the historical resource estimate as current mineral resources or mineral reserves, as defined in National Instrument 43-101, and the historical resource estimate referred to in this press release should not be relied upon.

About Quest Uranium

Quest Uranium Corporation is a Canadian-based, exploration company focused on the identification and discovery of new world-class Rare Earth deposit opportunities. The Company is publicly-listed on the TSX Venture Exchange as "QUC" and is led by a highly-respected management and technical team with a proven mine-finding track record. Quest is currently advancing several high-potential projects in Canada's premier exploration areas: the Strange Lake area of northeastern Quebec, the Kenora area of northwestern Ontario and the Plaster Rock area of northwestern New Brunswick. Quest continues to pursue high-value project opportunities throughout North America.

This press release may contain "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements".

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